The home that Hilda wants to buy sells for $213,000. She plans to make a 5% down payment and borrow the balance at 7.67% for 25 years. Her monthly mortgage payments will be $1,517.80. What total interest will Hilda pay over 25 years?

Step-by-step explanation:

She makes an initial payment of 5% = 0.05 * $ 213000 = $ 10650

she made monthly payment of $ 1517.80

total amount paid for the mortgage = $ 1517.80 * 25 years = $ 455340

amount borrowed = $ 213 000 - $ 10650 = $ 202350

total interest paid = total amount paid - total amount borrowed = $ 455340 - $ 202350 = $ 252990